Urwego Bank Plc
TypePrivate
IndustryFinancial services
Founded1997
HeadquartersKigali, Rwanda
Key people
Christine Baingana, Chief Executive Officer[1]
ProductsLoans, individual loans, group loans, savings, investments
Total assets19,649,524,000 RWF ($22,352,200.03 USD) in 2018[2]
Websitehttp://www.urwegobank.com

Urwego Bank (Urwego) is a Christ-centered Microfinance bank in Rwanda. It is licensed by the National Bank of Rwanda, the national banking regulator.[3]

History

Founded in 1997 by World Relief as Urwego Community Banking, the bank joined the HOPE International network in 2005. In 2007, the bank merged with Opportunity International Bank of Rwanda to become Urwego Opportunity Bank.

With the approval of the National Bank of Rwanda, Opportunity International sold its 50% ownership of Urwego to HOPE International in 2017, making HOPE a 99% shareholder in the bank, with World Relief continuing to own 1%.[4]

Overview

Urwego Bank is a licensed, Christian faith-based microfinance bank. Drawing upon its name (Urwego is the Kinyarwanda word that translates as “ladder” in English), Urwego's mission statement is, “To provide a ladder of opportunity to under-served communities in Rwanda as we proclaim and live the Gospel of Jesus Christ.”[5]

Urwego seeks to reach Rwandans who are economically active but under-served by licensed banking institutions. It offers a full range of financial services, including loans and savings programs,[6] as well as training to maximize the impact of financial products and empower clients for success in business, household management, and health.

Throughout its history, Urwego Bank has distributed nearly $290 million in loans.[7]

Ownership

According to the bank's website, the following corporate entities are shareholders. [8]

OwnerPercentage ownership
Hope International99%
World Relief1%
Total100.00

Branch network

As of July 2019, Urwego Bank had 15 full-service branches, seven of which, including the bank's headquarters, are located in the city of Kigali, Rwanda's capital.[9] In addition, Urwego had 15 ATM locations across the country.[10]

See also

References

  1. ↑ Leadership
  2. ↑ Total Assets As of December 2018
  3. ↑ "List of Licensed Banks In Rwanda". Archived from the original on 2012-05-12. Retrieved 2019-08-30.
  4. ↑ Our History
  5. ↑ About us
  6. ↑ Products
  7. ↑ About us
  8. ↑ Shareholders of Urwego Bank
  9. ↑ Branch locations
  10. ↑ ATM locations
This article is issued from Wikipedia. The text is licensed under Creative Commons - Attribution - Sharealike. Additional terms may apply for the media files.